• Total Income reached QAR 1.55 billion, up 22% compared to Q1, 2021;
• Net financing assets closed at QAR 122 billion, growth of 34% year on year
• Deposits closed at QAR 101 billion, an increase of 31% year on year
• The Capital Adequacy ratio stood at a healthy 20.7%

Doha, April 27, 2022:
Masraf Al Rayan Q.P.S.C today released its consolidated financial statements for the quarter ended 31 March 2022 with a Net Profit attributable to the equityholders of the bank of QAR 506 million.

His Excellency Sheikh Mohammed Bin Hamad Bin Qassim al Abdullah al Thani, Chairman of the Board stated:

“Masraf Al Rayan’s results for the first quarter of 2022 embody the resilience of our business. With a post-merger larger balance sheet and increased client base, the bank is firmly on course to enhance its participation in the Qatari economy”

Commenting on the quarter’s performance, Fahad bin Abdulla Al Khalifa, Group Chief Executive Officer said:

“We ended the first quarter of 2022 on a firm footing. During Q1 our emphasis was on harmonizing both teams of employees and ensuring we continue to provide excellent service to our valued clients. A key strategic objective of the bank is to be a leader in innovative Islamic products and services. We are very proud to have launched the country’s first Sharia Compliant Green Deposit and Islamic Sustainable Financing Framework. As we look forward, the bank will capture market share and become an Islamic financial powerhouse which will support the prosperity of our clients, development of the nation and enhance the bank's social progress”

Key Financial highlights:

Balance Sheet - QAR million	Q1 2022	Q1 2021	Change
Total Assets	170,805	125,502	36%
Net Loans & Advances	122,192	91,297	34%
Deposits	101,124	31%
Total Equity	25,191	13,904	81%

Income Statement - QAR million	Q1 2022	Q1 2021	Change
Total income	1,557	1,277	22%
Operating Expenses	273	170	60%
Net Impairment Charges	287	165	74%
Net Profit	506	575	-12%
Earnings Per Share (QAR)	0.05	0.08	41%
Rating	Moody’s A1 / Stable

Group ratios	Q1 2022	Q1 2021
Efficiency (%)
Cost to Income	25.8%	18.6%
Cost to Income (excl. merger one-off's)	22.13%	18.9%
Loan Quality
Non-Performing loans (QAR million)	2,807	966
NPL ratio (%)	2.25%	1.05%
Capital Management (%)
Capital adequacy ratio (CAR)	20.7%	19.9%